(1) These Regulations may be cited as the Consumer Credit (Agreements) Regulations 1983 and shall come into operation on 19th May 1985.

(2) In these Regulations, unless the context otherwise requires -

"the Act" means the Consumer Credit Act 1974;

"advance payment" includes any deposit and in relation to a regulated consumer credit agreement includes also any part-exchange allowance in respect of any goods agreed in antecedent negotiations to be taken by the creditor in part-exchange but does not include a repayment of credit or any insurance premium or any amount entering into the total charge for credit;

"the APR" means the annual percentage rate of charge for credit determined in accordance with the total charge for credit rules and Schedule 7 to these Regulations and, in the case of modifying agreements, Regulation 7 of, and Part I of Schedule 8 to, these Regulations;

"cancellable agreement" includes an agreement which is a modifying agreement treated under section 82(5) of the Act as a cancellable agreement;